National Mortgage Forensic Loan Auditors (NMFLA) , a firm that specializes in residential and commercial loan audit services, has recently opened its doors to homeowners and consumers allowing the public to obtain these services directly from the firm via educational products. NMFLA wants to expand and concentrate their efforts on helping the general population more effectively, obtain loan modifications and ensure enforceable loans. NMFLA is led by an effective and experienced management team that is sure to make a huge impact in an industry that is in anxious need of assistance.
NMFLA is a national compliance management firm which provides professional, advisory, and consulting services to financial institutions, mortgage bankers, real estate attorneys, consumer lending entities, and homeowners. The company's expertise addresses all critical areas associated with regulatory matters, compliance, and quality control. NMFLA.com can assist clients in meeting the oversight of regulators, fair lending mandates, and maintaining internal lending integrity and validation practices through independent quality control audits.
A 2006 Federal Deposit Insurance Corporation (FDIC) Office of Inspector General Report revealed that:
►83 percent of the institutions examined were cited for "significant" compliance violations
►43 percent of those institutions were "repeat offenders"
►85 percent of those repeat offenders were highly rated by the FDIC for their in-place compliance process
The other importance of the mortgage audit findings is that it may be the grounds to help move a non-judicial foreclosure action (currently in 29 states), if necessary, into jurisdiction, which can stop foreclosure in its tracks. More importantly, borrowers regardless of financial hardship and payment history now have the chance for a better position to negotiate new terms or loan settlement.
For more information, visit www.NMFLA.com.